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http://dx.doi.org/10.13106/jafeb.2021.vol8.no11.0297

Enhancing Customers' Satisfaction Using Loyalty Rewards Programs: Evidence from Jordanian Banks  

ALNSOUR, Iyad A. (Department of Advertising & Marketing Communication, Faculty of Media and Communication, Imam Mohammad Ibn Saud Islamic University)
ALNSOUR, Ibrahim R. (Department of Financial and Banking Sciences, Faculty of Administrative and Financial Sciences, Irbid National University)
ALOTOUM, Firas J. (Department of Marketing, Faculty of Business, Isra University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.8, no.11, 2021 , pp. 297-305 More about this Journal
Abstract
The study aims to investigate loyalty rewards programs on customers' satisfaction in Jordanian banks, and to investigate the statistical differences in loyalty rewards programs and customers' satisfaction according to demographics such as age, sex, education level, duration of engagement with bank, and the type of bank. The study is based on the data obtained from the sample. The questionnaire is the tool for collecting data from the respondents. The study materials include website resources, regular books, journals, and articles. The study population consists customers in the banking sector. The figures indicate that number of actual customers reaches 2.06 million. The sample size requirement is 386 items. Customers are split between traditional and Islamic banks, with 231 and 155 customers respectively. The stratified random sampling technique and the structural equations modeling methodology were used. The results show moderated impact of the loyalty rewards programs on customers' satisfaction. The results show statistical differences in the loyalty rewards programs and customers' satisfaction according to the engagement period with the bank only. The findings suggest better managing the loyalty programs and developing one credit card for all banks in Jordan.
Keywords
Loyalty Rewards; Loyalty Programs; Customer Satisfaction; Traditional Banks; Islamic Banks; Jordan;
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